It’s that time of the year again. Credit unions Boards and Leadership teams across the country will soon be gathering for weekend retreats to discuss the strategic direction their credit unions should take in the future.
It’s a valuable and important process, and it can be greatly improved by investing some time and energy in planning to plan. Here are five important steps for every credit union to consider to make this year’s planning session more successful: (more…)
In the movie The Bucket List, Jack Nicholson and Morgan Freeman play two aging men who meet in the hospital.
As they are discussing their mortality, Freeman’s character suggests that they should each create a ‘bucket list” of the things they want to do before they kick the bucket.
The movie documents their pursuit of the items on each of their lists and the development of a powerful friendship. Though it’s not the best movie either actor ever appeared in, it is both entertaining and insightful. (more…)
There are a lot of steps in the strategic planning process for credit unions, so it’s logical that some tend to get more attention than others.
But there is one step that is more important than the rest, and unfortunately it often gets overlooked: Communicating the credit union’s strategic plan to the entire team.
Think about it and answer the question honestly: Does your team know your credit union’s strategic plan?
It’s tempting to think that you don’t need to share the plan with frontline staff and mid-level managers. After all, it’s not easy to connect their day-to-day activities to the longer term strategy. (more…)
The process of strategic planning for credit unions, or any other business, involves asking a lot of questions. But none are more important that this one…because if you haven’t answered it, you’ll never be able to effectively define a vision for the future that can actually be achieved.
ACTION ADVICE: During your next planning session or your next progress review for your current plan, ask the question: What are we not going to do? Brainstorm a list, prioritize it, and start taking action. As the old saw says, you can’t steal second base without taking your foot off of first…the things you decide not to do are the equivalent of taking that first step toward second base!
It is our pleasure to share a guest post with you today from Judy Whalen, President of the WHALEN Center for Strategic Change. Enjoy!
Strategic planning can be either a boon or a bust for an organization. Many people bring “baggage” to the process. Some people have had terrible experiences. They vehemently oppose committing time and other resources to it. Others yawn, glaze over and are completely skeptical that the process can produce any measurable results. Others enthusiastically embrace the process and produce extraordinary results.
What makes a strategic planning project successful? How can you get the most out of the time and money invested in the project? (more…)
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